摘要
OPINION A New Momentum of Growth The financial crisis deriving from the United States in 2008 has not only trapped the global economy in a cycle of recession, but also greatly changed the structure of the global financial market. This change has also expanded to China. China’s financial market has transformed from a traditionally bank-dominated one to
OPINION
A New Momentum of Growth
The financial crisis deriving from the United States in 2008 has not only trapped the global economy in a cycle of recession, but also greatly changed the structure of the global financial market. This change has also expanded to China.
China＇s financial market has transformed from a traditionally bank-dominated one to a more diversified system. The proportion of bank financing against total financing has been greatly reduced, from more than 90 percent in 2003 to 58 percent in 2011. This has created a boom of various financing methods, such as entrust loans, trust loans and corporate bonds, and brought about a different banking system from Europe and the United States.
